Soaring edible oil prices deal blow to India's inflation fight

The soaring cost of vegetable oils is an ever-growing threat to India’s efforts to bring inflation under control.
 

Prices of palm oil, the most-consumed edible oil in the world, have jumped 15% this year to a record, while rival soybean oil has gained 12%, contributing to a surge in global food inflation to near all-time highs. 

The rally is putting a strain on India, the top buyer of palm, soybean and sunflower oils. Consumer food prices rose in December at the fastest pace in six months, squeezing household budgets and increasing pressure on Prime Minister Narendra Modi’s government which already provides